Nevada Announces New 'Foreclosure Fraud Reform' Law
Here in Nevada we have had the top spot in regard to state foreclosures for 56 consecutive months. The Nevada Attorney General announced that on October 1, 2011 the "Foreclosure Fraud Reform" law goes into effect, and is aimed at preventing unlawful foreclosures.
The party seeking the foreclosure must take the appropriate steps in order to proceed with a foreclosure in a lawful fashion.
Foreclosure must be notarized and filed with an affidavit of authority to foreclosure, proving their legal rights to do so.
The new bill offers the property owners and the attorney general more authority to protect and enforce the borrower's legal rights.
The law protects Nevadans from improper foreclosures; adds integrity to the process.
Throughout the nation (including Nevada) there have been foreclosures based on inadequate documentation and false or incomplete paperwork, this law works at addressing that issue.
For more information on your real estate concerns and needs, please give me a call today. I work full time in real estate with a full service company.
Kim Duclos crs abr gri
(702) 521-3939 Coldwell Banker Wardley
